Answer:
No
Explanation:
No, because the gross domestic product is determined by encompassing the final product. If the total sales are used to determine the GDP then the false value of GDP will come up because the problem of double counting will arise. Many firms sell their goods to other firms which is intermediate goods for the other firms.
Answer:
Wealth is often evenly distributed throughout a population
Explanation:
In a free-market economy, the government does not interfere with economic activities in the country. The private sector manufacture and distributes goods and services. The products produced are available for purchase by customers at a profit. Only those with resources will acquire any goods and services including, the basic goods or capital goods.
In the free market economy, wealth is not evenly distributed. Owners of capital goods produce goods and services for profits. They grow more wealthy as they generate more profits. Those without sufficient resources are likely to remain poor as all their income is spent on consumption. The gap between the rich and poor is wide and continues to increase.
Accounting information is <u>Comparable</u> if similar items are treated the same way among various companies highlighting similarities and differences between events and conditions.
<h3>What is
accounting information?</h3>
A firm employs an accounting information system (AIS) as a framework to gather, organize, process, retrieve, and report its financial data so that accountants, consultants, business analysts, managers, chief financial officers (CFOs), auditors, regulators, and tax agencies may make use of it.
To ensure the highest level of accuracy in a company's financial transactions and record-keeping, as well as to make financial data easily accessible to those who require access to it, specially trained accountants work closely with AIS to keep data secure and intact.
Learn more about accounting information
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